Historic Fredericksburg Foundation Loses Executive Director, Reports Financial Troubles

by | Jun 15, 2015 | News

The Lewis Store. Photo copyright Susan Larson for Fredericksburg Today.

By Susan Larson

Historic Fredericksburg Foundation (HFFI) Executive Director Sean Maroney resigned at the end of May, and the organization’s board of directors announced they have “no immediate plan to fill the position until we are more financially stable.”

During HFFI’s annual meeting in March, the Board of Directors presented “a rather somber report on the Historic Fredericksburg Foundation’s financial situation,” the group’s April newsletter reported. “Now, with the recent news of the Fredericksburg Area Museum’s suspension of operations, we think our message is even more necessary: financially we are not in good health and we need your help.”

“In short, we are deeply concerned with the state of preservation in Fredericksburg and the sharing of our region’s history, as well as maintaining the business side of these endeavors. Let us assure you that we continue to operate. We are advocating preservation issues in the City, offering preservation workshops and the Marker Program, and already organizing this year’s Route 1 and Christmas Candlelight tours. Self-sustaining events and programs will continue. A basic mission—the oversight of our available numerous historic and protective easements—is still in place, managed by trained staff.”

The 501(c)3 was formed in 1955 with the mission to preserve, protect and revitalize the distinctive historic environment and cultural resources of the Fredericksburg area through education, advocacy and financial support. The foundation’s easement program protects 36 properties, including The Lewis Store, which was recently named to the National Register of Historic Places.

HFFI also provides technical assistance for the restoration and maintenance of historic properties, and sponsors the Marker Program, which has provided research and historic markers for more than 180 buildings in the city,

Following is a review of the group’s IRS 990 reports for 2010 – 2013. Editor’s Note: The 990 for 2014 is not yet posted on GuideStar. We have requested a copy from HFFI, and we’ll report the figures once received.

Total Revenue
2010: $87,739
2011: $108,635
2012: $137,539
2013: $283,756

Total Expenses
2010: $158,565
2011: $169,954
2012: $183,414
2013: $185,094

Revenue less Expenses
2010: negative $70,826
2011: negative $61,319
2012: negative $45,875
2013: $98,662

Net Assets (total assets minus total liabilities)
2010: $1,635,811
2011: $1,569,014
2012: $1,530,654
2013: $1,578,476

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Historic Bank Closes its Doors in Downtown Fredericksburg

Summer Concert Series to Continue Despite Museum’s Financial Woes

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